The Federal Executive Council (FEC) on Wednesday approved the contracts for the rehabilitation of Warri and Kaduna refineries at $1.4billion
The breakdown showed that $897million is earmarked for the Warri refinery and $586million is for the rehabilitation of the Kaduna refinery.
The Nigerian National Petroleum Corporation (NNPC) in May commenced the rehabilitation of Port Harcourt refinery in Rivers State.
In March, the FEC approved the sum of $1.5 billion for the rehabilitation exercise.
The repair, which will be executed by Tecnimont SPA, an Italian company, will be done in three phases of 18, 24 and 44 months.